The Indonesian government will fully regulate cryptocurrency this year. As previously reported, the Financial Services Authority will take over the management and oversight of this digital good from Bappeti (OJK).
In addition to having its management moved to a more reliable financial management organization, cryptocurrency in Indonesia will now formally share a crypto exchange with the Indonesian Stock Exchange. in order to hasten the resolution of the prosecution of fake coins. According to Didid Noordiatmoko, the Exchange would oversee, administer, and control each of its members.
"To manage, control, and record is the goal. If there is an issue, action will be taken right away." At the Bappeti building, Didid remarked.
Additionally, the Crypto Exchange will follow the guidelines of the Indonesian Stock Exchange when using the ARA (Upper Auto Rejection) and ARB (Lower Auto Rejection) criteria. If it increases or falls sharply, or if it doesn't make sense, a coin will be suspended as a result.
"Similar to stocks, if a stock has a sharp increase or decrease, it will be instantly suspended. So, going forward, that's how it will be." Didid went on.
There are three steps that must be completed before the Crypto Stock Exchange may launch, if it is in fact founded.
"At the moment, the first phase is not finished. There will be at least three stages, and each step contains a set of indications. Stage two will begin if stage one is successful and has different indicators. Didid summed up.
Meanwhile, Mr. Teguh Kurniawan Harmanda, the chairman of the Indonesian Association of Crypto Asset Traders, also known as Aspakrindo, reacted favorably to the government's aim to establish a unique exchange for crypto. because it will increase investors' trust by double.
"In general, it (the Crypto Stock Exchange) might not always result in price increases. However, when seen from the perspective of trade in Indonesia, it will undoubtedly foster confidence and can attract new investors, "At the Bappeti building, Teguh spoke.
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